MANILA – The United Coconut Planters Bank (UCPB) has extended until March 31 the waiver on fees for InstaPay and PESONet transactions.
This will make the fee waiver in effect for a year after the bank first suspended the collection of digital financial transaction fees when the government placed Luzon under the enhanced community quarantine from mid-March until end-April 2020.
In an advisory, UCPB first vice president and marketing group head Charina Balanquit said the decision aims to help the bank’s clients do their financial transactions safely through digital means or without them going out of their homes.
It also intends to support the government’s bid to increase digital financial transactions in the country, which got a boost after the implementation of the quarantine measures.
“We wanted to usher in the New Year with good news for our clients with the extension of free fund transfers until the end of the first quarter. This is to encourage further usage of the digital payment system while ensuring the safety of InstaPay and PESONet users,” Balanquit said.
InstaPay and PESONet can be accessed through the bank’s electronic banking channels --UCPB Connect and UCPB mobile banking app. (PNA)